The Norwegian company Vårgrønn has acquired shares in the German wind farm “Baltic 2”. Energie Baden-Württemberg AG (EnBW) remains the majority owner of the 288 MW offshore wind farm.
In future, the joint venture between the energy companies Plenitude and Hitecvision will hold 27.4% of “Baltic 2”, while the majority of 50.1% will remain with EnBW, which will also assume the operating and maintenance costs. Ärzteversorgung Westfalen-Lippe, the largest pension fund in Germany, will indirectly hold the remaining 22.5% of “Baltic 2”.
“Baltic 2” is located in the German Baltic Sea, 32 km north of the island of Rügen, and was commissioned in September 2015. The wind farm has 80 Siemens wind turbines (3.6 MW) and produces around 1,200 GWh per year. “Baltic 2” supplies around 340,000 households with energy and saves 900,000 tons of CO2 emissions in the process.
Vårgrønn expands project portfolio
According to a statement from Vårgrønn, the aim of the investment is to gain operational knowledge and experience in the management of offshore wind farms. The company is involved in the development, construction and operation of several projects and the associated infrastructure. These include wind farms in England, Scotland, Ireland and Norway as well as initiatives in the Baltic States, which are currently still at an early stage. The company also holds a 20% stake in a project on the Dogger Bank, where the world’s largest wind farm is to be built, and a 50% stake in the major “Green Volt” project in Scotland.
For Vårgrønn, the new acquisition marks its entry into Germany, an “offshore wind market that is driven by ambitious government targets and promises high energy demand”, according to the company. With the goal of reaching 30 GW of offshore wind capacity by 2030, Germany is positioning itself as one of the European market leaders in the renewable energy sector.
“Vårgrønn is delighted to be entering Germany, one of the largest offshore wind markets in the world,” said CEO Stephen Bull. “This transaction provides us with an important platform for further growth and important operational insights in a new market.”
